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Would be helpful if rationale was provided against these SP guesses. Personally feel we need the OPEC meeting ( this Fri) out the way first and confirmation SA will continue with its voluntary 1m bpd cut for Sept. If not expect OP to weaken and thus SP, and vice versa !

If it’s any consolation the wholesale price of Cucumbers has collapsed due to a glut on the Market ( now 50% below last years pricing ) but like Oil you’ll only see higher prices !

Sentiment in the short term is a powerful driver, longer term the fundamentals should take over but entry then may cost quite a bit more.

Quite a few of Recorded Sells are actually buys ie. mine 14.47 of 125k is a buy, having been quietly buying most of the day !

Good to see Brent punch thro $85 this am. which will help our FCF.

Agree, this is the first positive sign that they are at least prepared to listen to Industry. Maybe the Chancellors Autumn Statement will reveal what that listening has achieved and just possibly support the next round of Licence approvals. Irrespective can’t imagine Ed.M is having the best of days !

One question is will the Saudi’s extend their voluntary output cut of 1m bpd into Sept. and then what happens for Oct. Irrespective feel we should hold $85 + by Q4 , given demand side coming from the likes of India/ US whilst China gets over its self administered virus.

With global oil demand thought to be circa 102.8m bpd in July, that will have outstripped supply again so my bet is SA will keep the pain on !

Interesting , thanks. Personally I’m more interested in 12 months from now when I expect we will be sitting quite a bit higher than today. PL in recent interview seemed to beam confidence, as I suspect he knows where this is heading !

Also news last week that DB Cargo UK ( owned by German State Railway ) and one of the UK’s largest rail freight operators, was pulling its electric trains from service and replacing them with diesel models because the high cost of energy meant they were becoming too expensive to run.

The trade body the Rail Freight Group, said: “DB Cargo are behaving exactly as would be expected of a company in their position having to cope with commercial reality.” At some point the penny will drop !

Whilst Politicians mould policies around what they believe will first appeal to their electorate, and then secondly business, the difficulty is its only Industry that can deliver what they promise.

It will take failure of delivery eg. collapse of major Renewable projects and the like, before they are forced to retrace , with Industry of course taking the blame.

As a Shell investor, one of their biggest proposed investments is a £multibillion project to build a huge floating wind farm off the coast of Scotland, known as MarramWind, being developed jointly with Scottish Power. Shell however have now signalled it is scaling back its renewable generation ambitions, saying that building solar and wind was “not where our strength is”.

In other words their strength is outside the UK , and in Oil & Gas. As their CFO said , when we invest we also look at the stability around those ( fiscal ) policies. Well that rules the UK out straight away.

As the O&G Industry remains one of the prime Investors into Carbon Capture/ Renewables, as that investment starts to disappear, as it now seems to be weakening, I suspect Government policies towards us will soften. What we don’t need is policy being dictated by a few with extreme personal ideologies, ie Red Ed, but on that score his voice already seems slightly muted. Maybe Common Sense will return after all. In the meantime I’m more focused on Brent !

Interesting that Covid cases in UK are rising again with Test Kit sales up 33% over last 3 weeks, should have an impact on our’ Launch ‘ side hobby whilst we await the main news.

Flash. Be careful what you wish for. AB may release an Op.’s Update next week ( last year it was 2nd Aug.) that thought will reveal the impact of Kraken’s silence. Just need to hope AB can put a good ‘spin’ on things, otherwise 2024 will seem a long way off.

Think quite a few of us saw the risk equation move heavily in our favour around the 1.7p mark. The Market is daft at times.

Positive AGM statement, even managed to nip in reference to growing data centre demand due to artificial intelligence applications, no doubt thinking any reference to AI these days can “blow the doors off” . Irrespective still looks good valve at current levels.

No politician likes doing U turns, remember it was Hunt who actually increased the EPL and extended its period (to 2028) so he owns this now and will point to O&G Companies still generating profits, to perversely justify its success !

Guess Shapps is in a no lose position given he’s responsible for both Energy Security and Net Zero policies . Rosebank looks on a knife edge !

Dumbly. I feel HBR would have pounced on ENQ by now if they were going to do so. Just cannot see any Party providing the Industry, let alone Linda Cook with any further assurances on the long term fiscal outlook, that may help in her deliberations , probably as they don’t yet know themselves. The Chancellors Autumn statement will I expect remain silent on the matter with the EPL now remaining for some considerable time given it neatly fits both Parties agenda in demonstrating the redistribution of ‘excessive’ Producer profits to help alleviate domestic energy costs; showing Polluters must pay; and curbing NS investment. Yes it started life as a Windfall Tax but has now morphed into just an additional Levy, with the ‘generous’ proviso it will be suspended should the OP collapse below a certain level. Added to this Labour threaten to remove most, if not all, investment incentives not directed at Renewables, whilst overseeing the NS’s terminal decline. So against this backdrop any actions that could be seen as endorsing the EPL may be limited. At least I don’t have a UK vote so that’s one problem avoided !

Analyst consensus SP target is 343p with ‘23 Adj. Ebitda of $12.5m, which the Company seem comfortable they’ll meet. All’s good.

That’s painful. Guess one Q. is what prompted the investment at 39p. As you said you won’t be alone but if it prompts not repeating the same error it’s a bitter lesson learnt. We’ve all done similar i’m sure , I certainly have but do a post-mortem and certainly don’t follow the crowd as most investors lose money . GL.

Reminds you of the days when Jordan Belford whipped up $cent stocks on the back of rather dubious info. Little surprise they’ve latched onto a HK based Payment Gateway outfit suggesting it’s AI attractive. If they mean attractive to Asian Investors they’re probably correct, but don’t think that’s what some others were hoping . Best look at the Financials then decide if the MC. is justified.